Monday, 21 July 2014

Option Expiration - July 2014

I have often stated that I plan to place fewer trades and use less margin. It has been very difficult, as I continue to find opportunities. 

For instance, Thursday, after market close, I noticed high option premiums for DIS (Walt Disney Corp). The following day, when I placed a trade to sell ten DIS puts, I received a call from a TD WebBroker rep informing me that my order had been declined because I did not sufficient margin available to place the trade. Rather than closing my current positions to free up margin, I decided to wait until Monday. If DIS option premiums drop significantly, I will search for other trades.

I sold 11 options with July expiration; collecting premiums of $2,138.07.  My 3 CPG (Crescent Point Energy) calls were assigned. With the proceeds from selling my 300 CPG shares, I purchased 300 shares of SU (Suncor Energy) at $44.93; then sold 3 SU $46 calls. I will continue to sell SU calls each month until they are assigned.

The following is a list of my expired option positions. Premiums are the amounts of cash I received after commissions. My option premiums are included as income in my monthly blog posts at the date the income is received.

Date              Position           Premiums

04/04/14   3C  CPG  $42      $76.26 assigned
05/14/14   5P  CPG   $42    $208.76
03/11/14   5P  CVE   $27    $163.76
05/27/14   10P CVE  $30    $297.51
03/11/14   5P  ENB   $44    $143.76
05/05/14  20P  GIS   $47     $305.00
03/11/14   5P  KEY   $58     $183.76
05/09/14  20P  PG    $72.50 $305.00
06/26/14   3C   SU    $46     $109.26
06/17/14   5P  TGT   $55       $88.75
05/19/14  15P  XOM  $90    $256.25

Ticker Symbols

* TSX listed stocks and options are listed in Canadian currency and the remainder are listed in US currency (exchange rates may vary)

CPG - Crescent Point Energy (TSX)
CVE - Cenovus Energy (TSX)
ENB - Enbridge Inc (TSX)
GIS - General Mills
KEY -  Keyera Corp (TSX)
PG - Proctor & Gamble
SU - Suncor Energy (TSX)
TGT - Target Corp
XOM -Exxon Mobil Corp

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